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Invesco Aerospace & Defense ETF
PPA

446 hedge funds and large institutions have $3.65B invested in Invesco Aerospace & Defense ETF in 2025 Q3 according to their latest regulatory filings, with 61 funds opening new positions, 197 increasing their positions, 103 reducing their positions, and 34 closing their positions.

New
Increased
Maintained
Reduced
Closed

91% more repeat investments, than reductions

Existing positions increased: 197 | Existing positions reduced: 103

79% more first-time investments, than exits

New positions opened: 61 | Existing positions closed: 34

17% more capital invested

Capital invested by funds: $3.13B → $3.65B (+$519M)

13% more funds holding in top 10

Funds holding in top 10: 8 → 9 (+1)

4% more funds holding

Funds holding: 427 → 446 (+19)

0.09% more ownership

Funds ownership: 55.1% → 55.19% (+0.09%)

39% less call options, than puts

Call options by funds: $62.8M | Put options by funds: $103M

Holders
446
Holders Change
+19
Holders Change %
+4.45%
% of All Funds
5.85%
Holding in Top 10
9
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+12.5%
% of All Funds
0.12%
New
61
Increased
197
Reduced
103
Closed
34
Calls
$62.8M
Puts
$103M
Net Calls
-$40.3M
Net Calls Change
-$35.9M

Top Buyers

1
Bank of America
Bank of America
North Carolina
+$25.5M
2
BNP Paribas Financial Markets
BNP Paribas Financial Markets
France
+$23.5M
3
Ameriprise
Ameriprise
Minnesota
+$17.9M
4
Mirae Asset Global Investments
Mirae Asset Global Investments
South Korea
+$14.5M
5
QC
Quadrature Capital
United Kingdom
+$14.4M

Top Sellers

1
KAS
Kestra Advisory Services
Texas
-$34.2M
2
MCM
MAI Capital Management
Ohio
-$7.55M
3
NG
Norden Group
Utah
-$6.64M
4
CAAS
Capital Asset Advisory Services
Michigan
-$4.16M
5
AWM
Axxcess Wealth Management
California
-$3.7M
Name Holding Trade Value Shares
Change 		Change in
Stake
IC
226
IEQ Capital
California
$620K +$587K +3,991 New
HGA
227
Hobbs Group Advisors
South Carolina
$611K – – –
OSAM
228
O'Shaughnessy Asset Management
Connecticut
$608K +$333K +2,266 +138%
TFS
229
Thoroughbred Financial Services
Tennessee
$604K +$227K +1,543 +66%
OP
230
ORG Partners
Indiana
$588K +$128K +870 +30%
GKWIM
231
Gerber Kawasaki Wealth & Investment Management
California
$584K +$40.3K +274 +8%
VA
232
Valmark Advisers
Ohio
$579K +$1.03K +7 +0.2%
KF
233
KKM Financial
Illinois
$575K -$135K -920 -20%
SAI
234
Savvy Advisors Inc
New York
$573K +$75.3K +512 +16%
MCWS
235
McKinley Carter Wealth Services
West Virginia
$568K -$2.79K -19 -0.5%
VWA
236
Visionary Wealth Advisors
Illinois
$564K -$29.4K -200 -5%
IAIM
237
International Assets Investment Management
Florida
$552K – – –
GWP
238
Gateway Wealth Partners
Wisconsin
$538K -$51K -347 -9%
Lido Advisors
239
Lido Advisors
California
$528K -$33K -224 -6%
CIA
240
Concurrent Investment Advisors
Florida
$523K -$13.4K -91 -3%
AWM
241
AE Wealth Management
Kansas
$511K -$44.7K -304 -8%
BZWA
242
Blue Zone Wealth Advisors
California
$507K +$480K +3,264 New
IA
243
IFC Advisors
California
$506K – – –
GWM
244
Geneos Wealth Management
Colorado
$492K – – –
KDA
245
Kraft Davis & Associates
Missouri
$492K +$5.15K +35 +1%
USCWA
246
U.S. Capital Wealth Advisors
Texas
$491K +$14.7K +100 +3%
Brown Advisory
247
Brown Advisory
Maryland
$487K -$11.8K -80 -2%
VBCG
248
Valley Brook Capital Group
Pennsylvania
$486K +$3.68K +25 +0.8%
LWM
249
LongView Wealth Management
Georgia
$476K +$147 +1 +0%
CVA
250
Central Valley Advisors
California
$470K – – –
8 9
10
11 12

PPA Hedge Fund Activity: Q3 2025 in Review

446 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Invesco Aerospace & Defense ETF (PPA) for Q3 2025, worth a combined $3.65B — up 17% from $3.13B a quarter earlier.

Buyers outnumbered sellers: 61 funds opened new PPA positions and 34 closed out — a net gain of 27 holders — while 197 added to existing stakes and 103 trimmed.

The largest buyer was Bank of America, adding an estimated $25.5M. The largest seller was Kestra Advisory Services, cutting an estimated $34.2M.

  • 446 institutional investors held Invesco Aerospace & Defense ETF (PPA) as of Q3 2025, up from 427 in Q2 2025.
  • Funds reported $3.65B of Invesco Aerospace & Defense ETF stock for Q3 2025, up 17% quarter-over-quarter.
  • 61 funds opened new Invesco Aerospace & Defense ETF positions in Q3 2025 and 34 closed out, a net change of +27 holders.
  • The largest Invesco Aerospace & Defense ETF buyer in Q3 2025 was Bank of America, an estimated $25.5M added.
  • The largest Invesco Aerospace & Defense ETF seller in Q3 2025 was Kestra Advisory Services, an estimated $34.2M sold.

Based on aggregated 13F filings for Q3 2025.